ICD Investments Ltd announces its acquisition of a significant minority shareholding in Intcomex Global Investments Holdings, S.L.
Intcomex is the leading go to market platform of value-added solutions and technology products in Latin America and the Caribbean, with a country presence in 14 territories, serving over 50,000 resellers, representing 180 manufacturers and 12,000 SKUs.
The company leverages a robust logistics backbone incremented over 25 years of steady growth to deliver quality products to its resellers at competitive prices utilising over 1 million square feet of storage in 24 consolidation centres throughout the region. Its sales divisions include Security, Point of Sale, Networking, Peripherals, Computers, Mobile and Cloud Services.
ICD Chairman, Joseph M Matalon, noted: ‘Intcomex has great leadership, dynamic in-country teams and superior distribution systems, making it an extremely attractive investment for ICD and one of our larger outlays in recent times.’ Peter Melhado, ICD CEO added: ‘We are also excited by the potential synergies with our existing businesses, several of which, including Amber Connect and Advantage Communications, will benefit from Intcomex’s tremendous reach across Latin America, from as far south as Chile all the way up to Mexico.’
Mike Shalom, CEO of Intcomex, commented: ‘ICD brings a lot to the table in terms of their management expertise and deal-making ability; we are looking forward to growing the business with their participation. We are also keen to realise synergies with some of their current operations, including the roll out of Amber Connect’s suite of products and services to our existing customer base.’
ICD Investments Ltd is the parent company of ICD Group Holdings Ltd (www.icdgroup.net), a Jamaican-based investment holding company whose subsidiaries/affiliates include Advantage Communications, Amber Technologies St Lucia, British Caribbean Insurance Company (BCIC), CGM Gallagher Group, Social Media Group (PR), West Indies Home Contractors, WIHCON Properties.